Sayona Mining Ltd (SYAXF)

[tikotiko]

Yes, Piedmont plans to build plants in both States plus it also has other investments elsewhere. The issue is that its NC plant has been delayed due to local opposition so it may not be receiving Spodumene from NAL any time soon. This means that the entire Spodumene production from NAL may need to be sold to others. At the same time, it is in Sayona’s best interest to expedite its carbonate (plus maybe hydroxide) refinery in or near NAL, which needs to happen by 2026 per the Canadian agencies (eg., IQ). The question is whether or not there will be much of a time window for Piedmont to build its plant and buy the higher of 50% NAL production or 113k ton/yr of Spodumene at the very low rate of $900/ton. I doubt this will happen for at least a couple of years, but I could be wrong, and in a way they do deserve it since they helped Sayona win the NAL bid. My hope is that the companies will work together to get good money from NAL from Spodumene soon and from refined lithium later, while supporting Sayona’s effort to expedite the refinery by 2026. I think they are working together based on recent announcements, but I am no expert and could be missing key details.